Parkside Partners Plan Office Condos at Glenwood Park
By Alex Finkelstein
Last updated: May 27, 2004 02:23pm
ATLANTA – Locally based Parkside Partners Inc. has bought the former Williams Brothers office building at Green Street Properties’ Glenwood Park and plans to convert the property into 22,000 sf of office condos above one level of covered parking. The deal closed in April but was announced today. The price wasn’t disclosed.
Parkside officials plan to renovate the building, now called Brasfield Overlook. The 28-acre park, two miles from Downtown, will include 60 single-family homes, 100 to 130 townhouses, about 200 multifamily residences and 50,000 sf to 75,000 sf of retail and office space.
“Having offices at Glenwood Park is an important part of creating a vibrant, active, daytime environment” Green Street Properties president Katharine Kelley says in a prepared statement. Green Street was founded by Charles M. Brewer who also founded locally based MindSpring Enterprises Inc., the Internet service provider.
Green Street took control of the Glenwood Park project at Interstate 20 and Glenwood Avenue in November 2001. The company spent the past 30 months planning, conducting site remediation and installing infrastructure “for a true urban neighborhood with housing and retail and office space,” says Brewer in the same statement. “We’ve run the gauntlet and Glenwood Park is emerging,” he says. Brewer chairs the company; Walter Brown is the firm’s third principal.
The first single-family homes at Glenwood Park will be completed in late summer. The initial townhouses and retail buildings will be finished in the third and fourth quarters of 2004. The office condominiums are scheduled to be completed in November. Parkside Properties didn’t disclose the asking prices for the condos.
For the residential component at Glenwood Park, Green Street has sold land to three local homebuilders that make up the Glenwood Park Builder’s Guild. They are Hedgewood Properties, Capstone Partners and Whitehall Homes. The amount of land sold to the builders and the prices they paid for the dirt weren’t disclosed.